LEP Targets Foreign Investment in the Solent

26 Sep 11

On Monday 19th September, the Solent Local Enterprise Partnership signed an agreement with UK Trade and Investment (UKTI) which will make the LEP the official government body responsible for co-ordinating inward investment locally.

The signing, which took place at the internationally renowned Southampton Boat Show, represents a landmark for the LEP as they indicate their intent to ensure a high level of inward investment to the Solent.

Minister of State for Business and Enterprise Mark Prisk MP signed the document on behalf of UKTI. In anticipation of the event, the Minister said:

“The Solent is an important area for the nation in targeting inward investment. The recently announced Solent Enterprise Zone will make the area particularly attractive to foreign investors, especially those in the Aerospace and Marine sectors. I expect the Solent to become one of the strongest areas in the UKTI national portfolio.”

Ernie Battey, Managing Director of Morgan Sindall Investments Ltd, signed the document on behalf of the LEP. Mr Battey said:

“I am extremely pleased to sign the MoU on behalf of the Solent LEP. We are one of the first LEPs in the country to sign the MoU with UKTI and it will be important that we work with government to ensure growth for both our local and national economy.”

The Solent LEP will take on the role of co-ordinating inward investment from SEEDA, the Regional Development Agency which is set to close its doors in March, 2012.

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